A second racetrack project emerged Thursday that would directly compete with an auto-racing complex proposed by Colorado Springs developer Bill Schuck.

Both are banking on millions of dollars in tax subsidies expected from the Colorado Regional Tourism Act, a measure aimed at boosting economic development and awaiting Gov. Bill Ritter’s signature.

Pat Hamill, chairman of Oakwood Homes, said Thursday that he is in active discussions with International Speedway Corp. and Aurora city officials to build a mixed-use, regional destination project anchored with a racetrack near Interstate 70 and E-470.

On Wednesday, the Schuck Corp. announced a $200 million racetrack project but acknowledged that it was not currently in talks with ISC.

“The reality is there will only be one track,” Hamill said. “No one’s going to build a track without NASCAR.”

Hamill, who owns about 2,500 acres near Denver International Airport, said his project has been in the works for two years and would include conference centers, hotels and retail shops.

Steve Schuck, chairman and founder of the Schuck Corp. and Bill Schuck’s father, said his firm has had discussions with ISC in the past.

“We look forward to having more discussions with ISC in the future,” Schuck said.

The Schuck Corp. owns TransPort, a 6,500-acre industrial park and cargo hub southeast of DIA. Schuck said his project may include multiple entertainment attractions beyond motorsports.

Hamill and Schuck agreed that the success of their projects is largely dependent on tax incentives proposed by the tourism bill.

Under the measure, sales-tax revenue generated directly from new attractions, such as a NASCAR track, would be given to developers to help pay off bonds used for construction. A maximum of two projects would be eligible to receive grants totaling up to $50 million each year.

The tourism measure was pushed through the legislature by Colorado Concern, a group of prominent business leaders of which both Hamill and the Schucks are members.

Ritter, who received the bill Thursday, has said he is considering concerns from opponents before deciding whether to sign it into law.

“I assume that the governor will ultimately sign it because it’s good public policy,” Schuck said.

Colorado Concern, whose members are mostly Republicans, helped Ritter, a Democrat, retire about $250,000 in campaign debt in late 2006.

Other members of Colorado Concern include Steve Farber, a partner with Brownstein Hyatt Farber Schreck, and homebuilding executive Larry Mizel. Brownstein attorney Jason Dunn lobbied for the tourism measure.

Brownstein represents ISC, but the law firm has said it did not work on the bill on behalf of ISC.

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